Budgeting

CastlelackSportHorses

CastlelackSportHorses

Well-Known Member
Joined
9 September 2024
Messages
474
Visit site
This has probably been done to death.
But, How do people manage expenses etc!

Im in a decent enough job(have applied for a better paying one) but still find at the end of the month Im broke.
I generally pay off all my loans(Jeep/Saddle) once wages comes in and try budget a certain amount every week for food shop.
What I need to figure out is competing!
Theres constant leagues running here on Saturdays/Sundays.

I purposefully haven't joined any affiliated stuff so will be just competing unreg.
Thinking of competing one horse every second weekend, so they will both get out twice a month.
Easier on my pocket and them?
 
I'm pretty anal about having spreadsheets, not just one - there is one for personal stuff, one for the yard (and more complicated ones for the other businesses). The yard one literally shows every expense on the bank account as well as the invoice totals, costs, maintenance etc. Personal one shows my bank accounts, what has to go out of each every month, and what is left (like you, not a lot!). It doesn't make money appear, but it does help a lot with being careful, and knowing if there is a little spare for an indulgence or whether it just isn't possible.
 
Abacus said:
I'm pretty anal about having spreadsheets, not just one - there is one for personal stuff, one for the yard (and more complicated ones for the other businesses). The yard one literally shows every expense on the bank account as well as the invoice totals, costs, maintenance etc. Personal one shows my bank accounts, what has to go out of each every month, and what is left (like you, not a lot!). It doesn't make money appear, but it does help a lot with being careful, and knowing if there is a little spare for an indulgence or whether it just isn't possible.
Click to expand...
I am so brutal with doing spreadsheets. I use Revolute to put like my Grocery shopping money for the month into, Bills etc.
But whats left in my bank account I swear just disappears!
Hubby and I also like to go away on holidays/short breaks a lot so hard to budget for those.
Just living life a bit too richley for my wages :P

I think horses competing will defo be on the back burner this year and adventures with Hubby will take there spot.
 
I live very frugally but very happy, too. I think most would be shocked at my frugality :D

I buy very little other than essentials for me, that includes food but I do splurge on takeaways, I rarely have treats, I don't go on trips/holidays, but then most of those don't appeal to me anyway. Take a hard look at non essentials and decide if they really are necessary. I don't have any tv subscriptions (I have a dodgy firestick) I don't pay for gyms but do an online Pilates course. You need to cut down on the frills, basically

My frills are a pretty new 3.5t horsebox, my horse and my dog and all the whistles and bells that go with them, anything else is fluff I don't need
 
Identityincrisis said:
I live very frugally but very happy, too. I think most would be shocked at my frugality :D

I buy very little other than essentials for me, that includes food but I do splurge on takeaways, I rarely have treats, I don't go on trips/holidays, but then most of those don't appeal to me anyway. Take a hard look at non essentials and decide if they really are necessary. I don't have any tv subscriptions (I have a dodgy firestick) I don't pay for gyms but do an online Pilates course. You need to cut down on the frills, basically

My frills are a pretty new 3.5t horsebox, my horse and my dog and all the whistles and bells that go with them, anything else is fluff I don't need
Click to expand...
I guess my frills are my jeep, and the 3 horses.

I guess competing isnt something I NEED to be doing but it does give me a reason to get up and exercise the horses everyday and a reason I muck out at 6.30 am LOL

We dont drink/smoke/eat out.
But music is a big passion of ours and we like going to gigs (which are normally on the continent)

Ill have to stop paying my bills, or maybe win the lotto. :P
 
CastlelackSportHorses said:
We dont drink/smoke/eat out.
Click to expand...
I recently stopped both drinking and vaping and I am wondering when I suddenly become flush with cash. All the surplus that I was throwing down the drain doesn't seem to have found it's way back to me???

I put a set amount into the joint account and savings when my pay comes in and then what's left is what's left. If something comes up and I need to raid the savings pot it isn't the end of the world but mentally it makes me think twice about frivolous spending.
 
Where do you do your food shopping? That can have a big impact on bills too. I'm an Aldi girl.

I agree, don't go without frills but I'm VERY considered in what I spend money on. Obviously 3 horses is a huge expense, I could NEVER do that on my wage :D

I live in the North East which obviously makes housing cheaper but I earn £29k

I have a house (mortgage)
Very small secondhand car
3.5t horse box
Horse
Dog

I save at least 1/4 of my wages each month, except December!
 
I don't have other hobbies or holidays, no gigs, rarely eat out etc.
But then it's still a max of once a fortnight for clinics/competitions but that's also down to how much energy I have.
My career has very much been driven by the need to earn more to keep the horses :D
Also I've have been very lucky to stumble on an incredibly reasonably priced yard, it would all come falling down should we ever need to go elsewhere.
I've also never been able to afford a horsebox, trailers and tow cars are my limit.
 
I think having a set plan for the competing (one horse every second weekend) sounds sensible. And maybe be a bit more ruthless about spending on short breaks - i.e. only do it if you can manage with under a set budget for the whole weekend, rather than going "oh hey this one looks fun, let's just do it".

If you can show your OH you have a plan for cutting back on competition spending, he might be more inclined to get on board with tighter budgeting for holidays.

One of the reasons we get by comfortably on not terribly high salaries is that we don't really have expensive holidays. Obviously everyone's priorities are different but travelling abroad regularly does (sadly) eat up money!

ETA, as others have said, Aldi shopping, a cheap yard and a trailer and elderly tow car also help - but again everyone's needs are different.
 
Widgeon said:
I think having a set plan for the competing (one horse every second weekend) sounds sensible. And maybe be a bit more ruthless about spending on short breaks - i.e. only do it if you can manage with under a set budget for the whole weekend, rather than going "oh hey this one looks fun, let's just do it".

If you can show your OH you have a plan for cutting back on competition spending, he might be more inclined to get on board with tighter budgeting for holidays.

One of the reasons we get by comfortably on not terribly high salaries is that we don't really have expensive holidays. Obviously everyone's priorities are different but travelling abroad regularly does (sadly) eat up money!

ETA, as others have said, Aldi shopping, a cheap yard and a trailer and elderly tow car also help - but again everyone's needs are different.
Click to expand...
My OH is the worst, every time he sees a gig he is like "Shall we?" and although he makes more than I do we still go! (He is very good and pays for bits but I hate him taking on all the expense)

We shop in Aldi, my jeep is expensive but reliable as is horsebox.

I defo think one horse every second weekend would be doable, it gives both mares a chance to recover but still gives me something to work towards.
 
I’m currently adopting the head in sand approach. Should probably not be approaching it that way but getting sucked into a deep sandy vortex of high maintenance horse!!
 
Train more, less competitions.

I’m signed up to an online training programme. Gives loads of new exercises to do, without having to go out competing.
 
I hear you! I have the same problem in that my money seems to evaporate.

It doesn't help that Little Madam is eating up any spare money by being on full livery until she stops producing milk and can return home, but it's been nearly two months and she's still at it. I have an upcoming castration for Pippin that I'm saving for, but will still make my bank account look miserable. The weather is crap, meaning I'm spending a lot more on hay and straw (luckily more affordable than in the UK around here). I also need to get the dentist out to the two older girls and chiro to at least check everyone over and I would also really like to get a saddle fitter out to Little Madam, but it's currently at the bottom of the list (I will need to see if any new more local ones have popped up since I last used one).
 
fredflop said:
Train more, less competitions.

I’m signed up to an online training programme. Gives loads of new exercises to do, without having to go out competing.
Click to expand...
I HATE going in arena, would rather box to the beach or go to a xc course to school.
I rarely get lessons, 130 horse knows her job so just hacks, and younger horse is very easy.
Plus lesson prices are gone extortionate.
 
I track everything that comes in/out of my bank on a spreadsheet, as a single person (with ADHD) living in the south east with a house, horse on part livery and car, I have to otherwise I'd be up sh!t creek without a paddle real quick.

I narrowed my financial leak down to impulse/dopamine related spending.. £10 here, £20 there on just stuff so now if I want something I write it on a list in my notes app on my phone and revisit it in a day or two and if I still want it but don't yet need it then I'll wait until the end of the month, and if I now need it I'll buy it. Most things get removed from the list within that review as I simply don't care for it any more.
 
We all wonder where our money's gone but it's currently being eaten by or sh*t on, literally. I do the same as others and budget everything into pots, I set aside £500 a month for the horse which generally just about covers it. This month was £1250 because of insurance co-payments, next month will be an additional £800 again for a separate claim. We spend absolutely extortionate amounts and when I was having a moan about it last night my OH did say 'Yes, but you know what you're like without a horse!' - i.e. bored and miserable. Which did make me feel better! I try to think of it as an investment into my mental health...
 
Going out every weekend is quite a bit. I do the same almost…!
Would aiming for 1 or 2 ‘big’ events work out cheaper (probably not!).? Affiliated is more but at least you might get the entry fee back. I can’t imagine there’s many others in the 1.30 unaffiliated league?
A competition a month per horse and a beach trip a month would be a fair saving. Also, photographers and cafes at shows…! I’m a regular supporter of both…
 
My horses have their own bank account (spreadsheeted budget averaging over 4.3 weeks.) and an extras ie dentist, vaccinations. Competing comes out of my "personal spending" budget I dont really drink / go out much / the OH pays ;)

£650 in winter for 2, very rarely using full livery so Im always knackered!
£350 in summer , I schedule vaccs/ dentist for mine during this time and compete in this season. - the only time of year I can actually save money. schedule car repairs to this season..

Helps both mine are good doers, barefoot, I buy good quality gear, buy cheap you buy twice. I dont go to the shops, and bring my own lunch (impulse spend prevention) and sell everything I dont use prompty on ebay.

PS I live off my credit card in winter, also have a good job. And am severely overdue a professional haircut!
 
rara007 said:
Going out every weekend is quite a bit. I do the same almost…!
Would aiming for 1 or 2 ‘big’ events work out cheaper (probably not!).? Affiliated is more but at least you might get the entry fee back. I can’t imagine there’s many others in the 1.30 unaffiliated league?
A competition a month per horse and a beach trip a month would be a fair saving. Also, photographers and cafes at shows…! I’m a regular supporter of both…
Click to expand...
When I competed affiliated in Showjumping and Eventing I never won any money. Even when I have won 120 or 130 classes. So no there is zero money, and Im not very competitive, I go out for the photos more than anything, and because I love eventing :P
 
starbucker said:
My horses have their own bank account (spreadsheeted budget averaging over 4.3 weeks.) and an extras ie dentist, vaccinations. Competing comes out of my "personal spending" budget I dont really drink / go out much / the OH pays ;)

£650 in winter for 2, very rarely using full livery so Im always knackered!
£350 in summer , I schedule vaccs/ dentist for mine during this time and compete in this season. - the only time of year I can actually save money. schedule car repairs to this season..

Helps both mine are good doers, barefoot, I buy good quality gear, buy cheap you buy twice. I dont go to the shops, and bring my own lunch (impulse spend prevention) and sell everything I dont use prompty on ebay.

PS I live off my credit card in winter, also have a good job. And am severely overdue a professional haircut!
Click to expand...
Im very similar, I always bring lunch to work to save money, I never buy crap tack, and only buy if Im stuck(like my 130 horses bit roundings on her pelham broke after 7 years so had to spend the 14quid on new ones :P)
I haven't had a professional hair job in over a year!
Unfortunately both mine were barefoot but vets recommended reshoeing so thats €190 every 7 weeks :(
 
CastlelackSportHorses said:
Im very similar, I always bring lunch to work to save money, I never buy crap tack, and only buy if Im stuck(like my 130 horses bit roundings on her pelham broke after 7 years so had to spend the 14quid on new ones :P)
I haven't had a professional hair job in over a year!
Unfortunately both mine were barefoot but vets recommended reshoeing so thats €190 every 7 weeks :(
Click to expand...
I dread the day! I expect for eventing the extra grip is worth it.. Just had to fork out for a new rug as my mare put holes it in, I'll try again in March ! Im praying hay prices come down next winter ! my livery bill has increase from £26 a week since september adds up!
 
starbucker said:
I dread the day! I expect for eventing the extra grip is worth it.. Just had to fork out for a new rug as my mare put holes it in, I'll try again in March ! Im praying hay prices come down next winter ! my livery bill has increase from £26 a week since september adds up!
Click to expand...
Id love to just hibernate for the winter next year, put horses in a field and visit them once a week, and start afresh in April :P
 
ihatework said:
I’m currently adopting the head in sand approach. Should probably not be approaching it that way but getting sucked into a deep sandy vortex of high maintenance horse!!
Click to expand...

I’m with you! I’m self employed so if the expenses seem to go up I just take on more work. Have savings so oops months are ok. Put the money back later sort of thing!

I should budget but…how terrifying would that be? Nope, not doing that!
 
  • Like
Reactions: tda
I'm another who religiously writes everything down on spreadsheets. I have the costs that I've budgeted for and then everything else is put down as individual transactions so it's easy to see when you've been spending on 'random' bits. Also I do as ASBMO does and if I want something I make myself wait at least a couple of days to see if I still feel I need it.

I would imagine that doing holidays, even weekend breaks, and competing are probably the issue. Although I use the word issue lightly as I do think that there is an element of absolutely everything has been going up in price and so what was previously a decent wage now gets wiped out on budgeted bills and doesn't leave much for competing or holidays or just life! Add in the cost of hay this winter and budgets from two or three years ago are completely redundant!

Is there anything that you can do to get any costs down? Could you swap to straights for the horses instead of mixes? Any supplements you can try not using or swap to a cheaper one? Is there a different bedding that could be cheaper? Vinted is great for horse stuff and clothes. Any other non essential spends that you can cut out?
 
Squeak said:
I'm another who religiously writes everything down on spreadsheets. I have the costs that I've budgeted for and then everything else is put down as individual transactions so it's easy to see when you've been spending on 'random' bits. Also I do as ASBMO does and if I want something I make myself wait at least a couple of days to see if I still feel I need it.

I would imagine that doing holidays, even weekend breaks, and competing are probably the issue. Although I use the word issue lightly as I do think that there is an element of absolutely everything has been going up in price and so what was previously a decent wage now gets wiped out on budgeted bills and doesn't leave much for competing or holidays or just life! Add in the cost of hay this winter and budgets from two or three years ago are completely redundant!

Is there anything that you can do to get any costs down? Could you swap to straights for the horses instead of mixes? Any supplements you can try not using or swap to a cheaper one? Is there a different bedding that could be cheaper? Vinted is great for horse stuff and clothes. Any other non essential spends that you can cut out?
Click to expand...
I have horses on as least feed as possible and only supplement they get is Acid Ease(Which is expensive to get in from UK), I also buy my bedding local in tonne bags and im very fussy about mucking it out so a tonne bag would last 3 weeks @€30 which I think is pretty decent.

I guess we dont have kids and other than a mortgage we have no massive bills, so not really something to worry about...
Maybe Ill go on feetfinders to fund my shows :P
 
I moved to bank with Starling just for their Spaces feature. All money that is needed for stuff is automatically filtered away into the appropriate pot on payday, anything left in the account is available for day to day spending. You can set up standing orders and direct debits to come from the Spaces, so - after the initial workings out and setting up - it all just looks after itself.

An example is my horse insurance renewal this week, it's £1k (claimed this year 😩) but I'd factored it into my monthly deposits into the Pony Space, so despite being a good chunk it'll just get paid without being a pain point.

You could set up a Competing Space that you pay into regularly so you 'protect' the money you want to spend on competing, but you could also pay in any winnings or leftover pennies to top it up periodically?

Honestly, it was a game changer for me; feel so much more confident with what's coming in and out.

www.starlingbank.com

Organise your money with Spaces by Starling Bank - Starling Bank | Starling

Use Spaces to set aside and organise your money in the app. Whether it’s putting money aside for groceries or clothes shopping, it’s up to you.
www.starlingbank.com
 
  • Like
Reactions: tda
You must log in or register to reply here.
Top